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[grgkecer] 01/2/2008 20:39

Exploration In The Falkland Islands



"BHP Billiton have farmed-in to Falkland Oil and Gas's acreage to the south-east of the islands and, although they are best known as major mining company, they have a decent track record in the E&P oil and gas business, with a couple of well-known oil and gas men on their Board. My sense is that it's in this acreage that there's the most chance of a discovery significant enough to 'open' the Falkland Islands as a hydrocarbon province - let's see what happens with the drill-bit!"

[7kiwi] 27/1/2008 10:56

"Later this year, the Falklands' 3,000 islanders should learn whether it will become the richest nation on earth. A floating oil rig will drill up to a dozen test wells deep into the sea bed around the British overseas territory. The findings should settle a decade of speculation over whether the islands lie in a particularly lucrative oil field."

[references] 10/1/2008 08:49

Interesting. Thanks HJim.

[honestjim2] 07/1/2008 09:12

references
The deep water port is now actively being discussed. I'm sure FKL will be in on this. BHP are visiting the islands in the 3rd week of Jan so that co-incides nicely!

Falklands : FIDC to Hold Deep Water Seminar
Submitted by Falkland Islands News Network (Juanita Brock) 04.01.2008 (Current Article)
FIDC are hosting a half-day seminar on the topic of "A Deep Water Port for the 21st Century – Where?" on 28th January from 09:00 until 12:00 at the Chamber of Commerce.

3rd January 2008

DEEP WATER PORT SEMINAR

FIDC are hosting a half-day seminar on the topic of "A Deep Water Port for the 21st Century – Where?" on 28th January from 09:00 until 12:00 at the Chamber of Commerce.

The aim of the seminar is to agree a picture of the opportunities and rewards offered by the various possible locations for a port – and to set these against the costs. That debate should help the government to make a decision on how to go forward – a decision which feedback to FIDC suggests is seen as urgent by many involved.

The first report on the subject, by Rendel Palmer & Tritton, was published in 1983. In the intervening 25 years, the topic of where to locate a modern port – and what it should look like – has been the subject of debate and further reports.

The most recent report, by Royal Haskonning, was published at the end of last year. It looked at the current and likely future port needs of fishing and tourism, two industries which have contributed immensely to the changing face of the Falkland Islands over the past twenty-five years. This gives a solid base to start the process properly to progress towards construction.

The Royal Haskonning report produced a clear outline of the possibilities for development of the FIPASS site. Its value, however, lies also in showing the facilities needed, wherever a port is to be located. And it is clear, from the comments made while the data for the report were being collected, that there are still differences of opinion on the best location. Port William, either East or West of The Narrows, and Berkeley Sound all have their supporters, as well as FIPASS itself.

The case for each will be presented by a champion who will, no doubt, sing loud the merits of their chosen site. There will be an opportunity to question the disadvantages, as well as the advantages, and the outcomes will be published as a paper designed to inform a commitment to the next steps.

The Falkland Islands need for a deep-water port is a popular refrain from many people. The first step in making that a reality is to make a decision on location – without this, no port will be built. So all those interested are invited to come along on 28th January and contribute – it would be helpful if those attending would let FIDC know in advance, by contacting Christine Scipio-O'Dean on telephone 27211 or email [e-mail]

[references] 07/1/2008 09:08

When the Islands decide on a new deep water port that I understand is currently under discussion, will FKL automatically be involved? ie will FKL be an investor/equity participant/owner etc? If not, there will be an inevitable demise of FKL's existing port interests.......

[7kiwi] 13/12/2007 18:39

Good surge today on the FOGL news.

This is an interesting play: stake in FOGL and many businesses that will be highly geared to increase in people traffic t Falklands and property very geared to any finds in SFB or NFB

[7kiwi] 02/12/2007 08:52

Yes, I think so. FKL and FOGL.

[ramellous] 01/12/2007 13:43

Does this advert for a tip relate to this stock?

[eburne1960] 08/11/2007 17:32

neither of them have a stake in Rockhopper, but it's logical that any good news concerning possible oil discoveries in the area will benefit all the companies exploring for oil. Also, FKL would benefit from such news as it is involved in providing all sorts of goods & services on the islands, greater economic activity = more demand for what it provides.

[free willy 2] 05/11/2007 07:51

Doubt it and if they have its less than 3%

[a0469514] 04/11/2007 23:54

Yes I am aware that FKL own part of FOGL but do either of them have a stake in Rockhopper?

Xylos

[free willy 2] 03/11/2007 09:16

Because FKL has 16.34% of FOGL

[a0469514] 02/11/2007 23:04

I read the rockhopper announcement on the FOGL thread. How does it benefit FKL please?

Xylos

[references] 31/10/2007 14:47

Should be a beneficiary of the good Rockhopper news.....

[smiler 0] 03/10/2007 07:43

October 3, 2007

BHP Billiton strikes $100m Falklands drilling deal

BHP Billiton is dipping its toe into disputed waters with an agreement to fund a drilling programme offshore in the Falkland Islands.

The Anglo-Australian resources group is joining forces with Falkland Oil and Gas, an AIM-listed company with rights over exploration acreage south of the islands. BHP will fund the majority of a drilling programme of between two and four wells at a cost of $100 million (£49 million).

Tim Bushell, chief executive of Falkland Oil and Gas, said: "The introduction of a major company as a farm-in partner has been a key strategic objective over the last 18 months."

Floated on AIM three years ago, Falkland Oil and Gas has conducted extensive seismic surveys over offshore acreage that it secured in a 2002 licensing round.

Mr Bushell said that the company had identified large prospects, but added that it needed financial backing to drill in water 3,000ft deep. "It's not cheap to drill and, with high oil prices affecting the price of rigs, it's even more difficult," he said.

BHP is acquiring 40 per cent of the licences with an option to increase to 65 per cent for an initial payment of $10 million, which will reimburse initial costs incurred by Falklands Oil and Gas.

BHP will not only provide funds but will also take over the operation of the exploration programme and has access to rigs, a key advantage in a market where equipment is in short supply. The first well is likely to be drilled in a year's time.

The BHP initiative is the first sign of renewed commitment to Falklands exploration since the disappointing round of investments in the late 1990s when Shell, Amerada Hess and Lasmo acquired offshore licences in territory north of the islands. Six wells were drilled, with some hydrocarbon finds, but none of the discoveries were of a scale to justify investment in production platforms in depths of 1,000ft.

[walker10] 30/9/2007 18:27

Well something is breaking if there talking to the military

Oil Operator Meeting
Representatives of five oil companies will arrive in the Islands at the end of September for a series of joint operator meetings with FIG, private sector and military representatives as well as holding a public meeting.

[grgkecer] 28/9/2007 12:20

Falkland Islands exploration company boss Howard Obee has clearly stated that his company is willing to work with other firms operating there to develop a joint drilling campaign.

[grgkecer] 24/9/2007 07:18

From FOGL's Interim Results:

FOGL is also pleased to announce that it now holds a 100% stake in the Falkland
licences granted in 2002 which now amount to 14,500 sq km, after Tullow Oil plc
relinquished its 22.5% stake which it gained through its acquisition of Hardman
Resources in 2006. Under the terms of the Joint Operating Agreement this
interest reverts to FOGL without any payment. The increased stake provides us
with further flexibility in dealing with our licences in which we will have an
undivided 100% interest.

[jpdm fortunemaker] 21/9/2007 11:34

Hi - Px = Price
Cheers
JP

[whackford] 21/9/2007 09:00

JPDM - what does "Px" mean, please?

[jpdm fortunemaker] 20/9/2007 13:36

Rating this as a cautious Buy. Bought my first position in this stock today. Px target end of Sept 450p
JPDM

[grgkecer] 11/9/2007 16:56

There may be no more oil than there is gold.